
# generate appendix E1, table E1

library(rio) # to load data
library(tidyverse) # to reshape data
library(lmtest) # to cluster standard errors
library(sandwich) # to cluster standard errors
library(plm) # to run panel regressions
library(texreg) # to generate tables

# set your working directory
setwd("~/replication_files")

monthly_data <- import("data/monthly_data.csv")


# table E1

# model 1
embi <- plm(embi_global_delta ~ 
              embi_global_lag +
              resource_rents_perc_lag + 
              resource_rents_perc_delta + 
              oil_production_lag + 
              oil_production_delta + 
              terms_of_trade_lag +
              terms_of_trade_delta +
              discovery_lag + 
              minister_is_econ_technocrat_usa +
              minister_turnover_5yrs +
              debt_crisis_experience +
              election_month + left_exec +
              fiscal_council + 
              polcon + 
              imf_agreement +
              fiscal_balance_lag + 
              tax_perc_gdp_cepal_lag +
              log_core_inflation_lag +
              gdp_pc_cepal_lag +
              gdp_growth_cepal_lag +
              ka_open_lag +
              log_reserves_lag +
              treasury_rate_lag,
            data = monthly_data, model = "within", index = c("iso3c","time"))

embi_r <- embi %>%
  coeftest(vcovHC(embi, type = 'HC0', cluster = 'group'))

# generate table E1
texreg(l = embi_r, stars = c(0.01, 0.05, 0.1),
       custom.header = list("Dependent Variable:" = 1),
       custom.model.names = "EMBI Global $_{Delta}$",
       custom.coef.map = list("embi_global_lag" = "EMBI Global $_{t-1}$",
                              "resource_rents_perc_lag" = "Resource Rents, % of GDP $_{t-1}$",
                              "resource_rents_perc_delta" = "Resource Rents, % of GDP $_{Delta}$",
                              "oil_production_lag" = "Oil and Gas Production $_{t-1}$",
                              "oil_production_delta" = "Oil and Gas Production $_{Delta}$",
                              "terms_of_trade_lag" = "Commodity Price Index $_{t-1}$",
                              "terms_of_trade_delta" = "Commodity Price Index $_{Delta}$",
                              "discovery_lag" = "Field Discovery $_{t-1}$",
                              "minister_is_econ_technocrat_usa" = "Mainstream Minister = 1",
                              "minister_turnover_5yrs" = "Minister Turnover (5 Years)",
                              "debt_crisis_experience" = "Debt Crisis Experience = 1",
                              "election_month" = "Election Month = 1",
                              "left_exec" = "Left Executive = 1",
                              "cb_independence" = "Central Bank Independence",
                              "fiscal_council" = "Fiscal Council = 1",
                              "polcon" = "Political Constraints",
                              "imf_agreement" = "IMF Agreement = 1",
                              "fiscal_balance_lag" = "Fiscal Balance, % of GDP $_{t-1}$",
                              "tax_perc_gdp_cepal_lag" = "Tax Revenue, % of GDP $_{t-1}$",
                              "log_core_inflation_lag" = "Ln Core Inflation $_{t-1}$",
                              "gdp_pc_cepal_lag" = "GDP Per Capita $_{t-1}$",
                              "gdp_growth_cepal_lag" = "GDP Growth, % $_{t-1}$",
                              "ka_open_lag" = "Capital Openness $_{t-1}$",
                              "log_reserves_lag" = "Ln International Reserves $_{t-1}$",
                              "treasury_rate_lag" = "US Treasury Rate, % $_{t-1}$"),
       fontsize = "footnotesize", digits = 3)

# retrieve fit stats
texreg(l = embi, stars = c(0.01, 0.05, 0.1))
